The Biggest Ponzi Scheme on the Planet-The U.S. Government
"American Economic Exceptionalism Explained"                     USAPonzi                                      by John W. White   Mar 29, 2013

Cars, Airplanes, Tall Buildings, and Boomtowns
May 15, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sess
ions, Congressman Sam Johnson, Senator John Cornyn, and Senator Ted Cruz on 5/15/18


The following is an Op-Ed to “The Wall Street Journal”“The New York Times”“The Washington Post”, and “The Dallas Morning News” that explains why corruption within the U.S. Government is filling the planet with “Cars, Airplanes, Tall Buildings, and Boomtowns”


The “news media” has an ethical responsibility to inform the general public of how the U.S. Government is committing fiscal and accounting fraud to cheat the general public and the rest of the planet so they can “feather their own nests” and “colossally feather the nests of their upper-class friends”! The U.S. Government is not using accrual accounting!


The “news media” is aiding and abetting the corrupt and criminal U.S. Government by refusing to report this fiscal and accounting fraud!


Cars, Airplanes, Tall Buildings, and Boomtowns
May 15, 2018


The corrupt and criminal U.S. Government is filling the planet with useless “Cars, Airplanes, Tall Buildings, and Boomtowns”! The U.S. Government is committing fiscal and accounting fraud by not operating its fiscal policy with accrual accounting!


This article Unrecognizable Before And After Views of Cities From Around The World from the Mar 2, 2014 issue of EyeOpening.info, shows before and after pictures of three cities (Dubai UAE, Shenshen China, and Las Vegas NV) that I contend have all been mistakenly built by this U.S. Government accounting fraud!


This accounting fraud was launched in FY1969 and since then the U.S. Government has fraudulently borrowed $113.2 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans so the current Americans can buy expensive oil from the Middle East, buy all kinds of stuff from China, and spend/lose a lot of money in Las Vegas! I call this fraudulently borrowed money imaginary-counterfeit money because the money does not exist and has no value! The U.S. Government should be using accrual accounting (GAAP Accounting) to properly assess and report its financial condition!


The U.S. Government is committing fiscal and accounting fraud so Americans can buy stuff without having to pay for it. The U.S. Government has fraudulently deferred public liabilities of $113.2 Trillion to the future Americans so that it can fraudulently enrich the U.S. upper class by $113.2 Trillion!


All three of these boomtown cities will become ghost towns when this U.S. Government accounting fraud is properly exposed! The U.S. Government is running a $113.2 Trillion Ponzi scheme that I call USAPonzi to create these boomtowns over just the last few decades!


The corrupt and criminal U.S. Government is creating boomtowns by borrowing money from the future Americans, money that the future Americans do not have, and giving it to the current Americans by undertaxing them! The U.S. Government is fraudulently and colossally over-stimulating the global economy with GAAP basis deficit spending of $6.01 Trillion in FY2018! This GAAP basis deficit will increase on an exponential trajectory each year because the U.S. Government must pay virtual interest on the US Unfunded Liabilities (GAAP) of $113.2 Trillion at a rate of nominally the 30-year bond which is currently 3.13%!


The carrying cost of the U.S. Government US Unfunded Liabilities (GAAP) of $3.54T (0.0313x$113.2T=$3.54T) exceeds US Federal Tax Revenue of $3.33T in FY2018! When the interest on an entity's debt consistently exceeds its income, that entity is bankrupt!


The U.S. Government is bankrupt!


This U.S. Government fiscal and accounting fraud is building boomtowns all over the planet!


Another interesting observation is that the U.S. Government GAAP basis Deficit in FY2018 of $6.01 Trillion is nearly twice its income of $3.33 Trillion! Further, most of the U.S. Government's income is imaginary-counterfeit money generated by the fraudulent economic activity produced by the colossal GAAP basis deficit spending of the corrupt and criminal U.S. Government! U.S. GDP and US Federal Tax Revenue will both drop dramatically when USAPonzi implodes!


This U.S. Government accounting fraud is borrowing money from the future Americans, money that the future Americans do not have, so the current Americans can buy so many cars that we are experiencing traffic jams! This fraud, if continued, will borrow an infinite amount of money from the future Americans so the current Americans can buy an infinite number of cars! Talk about traffic jams, an infinite number of cars would create a really big traffic jam!


This U.S. Government accounting fraud is similarly building a dramatic oversupply of airplanes that will be sitting in airplane graveyards when this accounting fraud is exposed! People all over the planet are flying on airplanes with tickets that have been paid for with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans! Very few people will be able to afford to fly when the U.S. Government starts using honest accounting!


The corrupt and criminal U.S. Government is committing a fiscal and accounting fraud by not operating its fiscal policy with accrual accounting! Because of this fiscal and accounting fraud, the U.S. Government is running a massive Ponzi scheme, I call it USAPonzi, that is borrowing a never-ending and exponentially increasing supply of imaginary-counterfeit money from the future Americans and giving it to the U.S. upper class!


The corrupt and criminal U.S. Government is promising to pay unreasonable and unaffordable benefits to the U.S. general public and then does not tax the U.S. upper class to pay for these benefits! The U.S. Government is not accruing the money to pay for these future benefits!


When the current Americans do not have to pay the taxes to cover the cost of the U.S. Government's overspending and overcommitting, they can buy cars, buy airplanes, buy oil, buy stuff from China, spend/lose money in Vegas, build tall buildings, and build big houses! The current Americans have been fraudulently undertaxed by $113.2 Trillion (US Unfunded Liabilities (GAAP)) as of May 15, 2018 giving the current Americans $113.2 Trillion of imaginary-counterfeit money!


This Ponzi scheme fiscal policy of the U.S. Government is printing a never-ending and exponentially increasing amount of imaginary-counterfeit money so that all parts of Planet Earth can buy oil, buy cars, buy airplanes, and build tall buildings! This accounting fraud has no geographic boundaries on Planet Earth and even extends into outer space! This fraud is buying cars and airplanes all over the planet! This fraud is building tall buildings and big houses all over the planet! This fraud is building boomtowns all over the planet! This fraud is sending rockets and satellites into outer space! This fraud is buying guns and bombs for us, for our friends, and for our foes!


This fraud has built tall buildings in cities all over the planet! This fraud has built entire cities of tall buildings with fancy airports in the Middle East and in China! This fraud has built the city of Las Vegas! Cities all over the planet will look like luxurious ghost towns when this colossal U.S. Government fiscal and accounting fraud is finally exposed and USAPonzi implodes!


The corrupt and criminal U.S. Government is committing a fiscal and accounting fraud that is fraudulently enriching the U.S. upper class by $113.2 Trillion so that all Americans can buy stuff without having to pay for it!


Someone has got to stop this fraud because we are building assets that will serve no useful purpose in a sustainable global economy!


The corrupt and criminal U.S. Government has already printed $113.2 Trillion of  imaginary-counterfeit money, and is printing $16.5 Billion more imaginary-counterfeit money every day (GAAP Deficit in FY2018 of $6.01T/365 days = $16.5B/day)
!


When USAPonzi implodes, this stash and stream of imaginary-counterfeit money will evaporate into the “thin air” from whence it came! The global economy will come to an abrupt stop while everyone tries to figure out how to operate an economy when no-one has any money! The global economy will go from feast to famine essentially overnight!


The corrupt and criminal U.S. Government is filling the planet with physical assets that will be useless in an honest economic environment simply because it is not operating its fiscal policy with proper accrual accounting!


We have 535 criminals in the U.S. Congress and an untold number of criminals in the White House!


The U.S. Government has committed the biggest financial fraud ever perpetrated; a $113.2 Trillion fiscal and accounting fraud that is a classic Ponzi scheme which I have named USAPonzi!


This fraud is explained in more detail in my Open Letter to Planet Earth commentary!


The U.S. Government is filled with scoundrels, liars, cheaters, and criminals that are running a massive Ponzi scheme because they are not operating the U.S. Government fiscal policy with proper accrual accounting!


To eliminate this massive fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget. GAAP Accounting (Generally Accepted Accounting Principles) is the commonly used name in America for the accounting guidelines for accrual accounting!

 

National Debt   $21.2 Trillion  
US  Federal Tax Rev FY2018   $3.33 Trillion  
Cash Deficit in FY2018   $0.75 Trillion  
GAAP Deficit in FY2018   $6.01 Trillion  
US Unfunded Future Liabilities   $92.0 Trillion  
US Unfunded Liabilities (GAAP)   $113.2 Trillion  
Imaginary-Counterfeit Money   $113.2 Trillion  
Total National Assets   $139.2 Trillion  

Source: www.usdebtclock.org May 15, 2018


This fraud/Ponzi scheme (USAPonzi) is explained in much more detail on my websites www.usaponzi.net and www.usaponzi.com and in my books “USAPonzi”, “USAPonzi2”, and “USAPonzi3”!


This is the biggest ($113.2 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.


John W. White
Plano, TX